The Long & Foster Market Minute

Focus On: Aquia, Leeland, and Eastern Stafford Housing Market March 2021

Zip Code(s): 22554
Units Sold
107
Active Inventory
28
Median Sale Price
$460,000
Days On Market
9
Up 1%
Vs. Year Ago
Down -83%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -70%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 107 sold this month in Aquia, Leeland, and Eastern Stafford Real Estate versus 83 last month, an increase of 29%. This month's total units sold was higher than at this time last year, an increase of 1% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 138 units or 83%. The total number of active inventory this March was 28 compared to 166 in March 2020. This month's total of 28 is lower than the previous month's total supply of available inventory of 41, a decrease of 32%.

Median Sale Price
Last March, the median sale price for Aquia, Leeland, and Eastern Stafford Homes was $389,900. This March, the median sale price was $460,000, an increase of 18% or $70,100 compared to last year. The current median sold price is 6% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
177
Current Contracts
172
Sold Vs. List Price
103.0%
Months of Supply
0.3
Up 6%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -83%
Vs. Year Ago

Months of Supply
In March, there was 0.3 months of supply available in Aquia, Leeland, and Eastern Stafford, compared to 1.6 in March 2020. That is a decrease of 83% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 177 homes newly listed for sale in Aquia, Leeland, and Eastern Stafford compared to 167 in March 2020, an increase of 6%. There were 172 current contracts pending sale this March compared to 145 a year ago. The number of current contracts is 19% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Aquia, Leeland, and Eastern Stafford was 103.0% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 9, lower than the average last year, which was 30, a decrease of 70%.

The Long & Foster Market Minute Aquia, Leeland, and Eastern Stafford are defined as properties listed in zip code/s 22554.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.